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AI brief of an SEC Form 8-K · Prosperity Bancshares (PB)

Prosperity Bancshares CEO David Zalman signs amended employment agreement with change-in-control terms

Neutral Impact 3 of 5 leadership Written later

Prosperity Bancshares entered a Fourth Amended and Restated Employment Agreement with CEO David Zalman on October 15, 2024. The revised agreement narrows change-in-control payments: cash payments now apply only if Zalman resigns for Good Reason or is terminated without Cause within a window from six months before to 18 months after a change in control.

Key points

  • Agreement dated October 15, 2024, amends the Third Amended and Restated Agreement effective December 29, 2023.
  • Prior agreement paid three times base salary and three times average annual bonus upon a change in control.
  • Revised agreement requires a qualifying termination, with payments tied to a window running six months before to 18 months after a change in control.

The filing

CompanyProsperity Bancshares (PB)
Form8-K, current report
Filed with the SECOct 16, 2024, 5:27 PM ET
Accession number0000950170-24-115083

Items reported: 5.02 Director / Officer Change

Read the filing on SEC.gov ↗

Written by AI on Nov 8, 2026, 1:17 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on October 16, 2024.

Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.